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DOWNTOWN FLUSHING A quarterly analysis of multifamily sales in Downtown Flushing, Queens 2nd Quarter 2018

P: 718-715-1758 www.PropertyShark.com [email protected]

Multifamily Market Report, 2nd Quarter 2018

Multifamily Market Report, 2nd Quarter 2018 Downtown Flushing, Queens

SUMMARY SALES VOLUME

NO. OF TRANSACTIONS

AVERAGE PRICE/UNIT

AVERAGE PRICE/SQ.FT.

$118.7M

6

$297K

$331

353% YoY

50% YoY

30% YoY

22% YoY

NEIGHBORHOOD BOUNDARIES

P: 718-715-1758 www.PropertyShark.com [email protected]

MULTIFAMILY STATS Sales Volume $160.0M $140.0M $120.0M $100.0M $80.0M $60.0M $40.0M $20.0M $

$135M

$119M $64M

$2M

$16M

$1M

$7M

$27M $2M

$9M

$33M

$35M

$33M

$26M

$5M

$2M

$920K

$11M

Average Sale Price per Unit $700K $600K $500K $400K $300K $200K $100K $

$297K

$228K

Number of Units Sold Quarter Q1 Q2 Q3 Q4

2016 233 151 100 11

2017 114 115 8 9

2018 25 400

500 400 300 200 100 0

400

25 Q1

Q2

2016

Number of Buildings Sold Quarter Q1 Q2 Q3 Q4

2016 6 3 5 1

2017 6 5 2 2

2018 4 6

8

2017

2016 6 3 4 1

2017 6 4 2 2

4 2 0

Q2

8

Q3 2017

Q4

2018

6

6

2018 4 6

2018

4

2016

Quarter Q1 Q2 Q3 Q4

Q4

6

6

Q1

Number of Transactions

Q3

4

4

2 0 Q1

Q2 2016

Q3 2017

2018

P: 718-715-1758 www.PropertyShark.com [email protected]

Q4

Total Sq. Ft. 600K 500K 400K 300K 200K 100K

496K 359K 208K

155K 8,518

3,690

13K

3,696

64K

35K

104K

79K

108K 9,261

96K

8,400

7,135

24K

Average Sale Price per Square Foot $700 $600 $500 $400 $300 $200 $100 $

$331

$271

MULTIFAMILY SIZE Size of Multifamily Properties Sold Multifamily size Small Medium Large

Avg. price/unit $376,111 $300,000 $294,382

Y-o-Y -28% 125% 24%

Avg. price/sqft $428 $302 $332

Y-o-Y 1% 53% 21%

Sales volume $3,385,000 $10,500,000 $104,800,000

Sales 2 1 3

Buildings 2 1 3

Small (up to 10 units), Medium (between 10 and 50 units), Large (more than 50 units)

33%

Small Medium

50%

Large

17%

P: 718-715-1758 www.PropertyShark.com [email protected]

Units 9 35 356

LIST OF TRANSACTIONS Address 13225-13245 Maple Ave 13257 Sanford Ave 14227 Barclay Ave 4204 Saull St 14220 Sanford Ave 13818 Elder Ave

Sale date 21-Jun-18 21-Jun-18 21-May-18 29-May-18 15-May-18 26-Apr-18

Sale price $51,100,000 $40,400,000 $13,300,000 $10,500,000 $2,400,000 $985,000

Property type Large multifamily Large multifamily Large multifamily Medium multifamily Small multifamily Small multifamily

Units 180 126 50 35 6 3

Sqft 161,520 113,348 40,991 34,807 4,584 3,328

Price/sqft $316 $356 $324 $302 $524 $296

P: 718-715-1758 www.PropertyShark.com [email protected]

Pkg. deal No No No No No No